First Helium Receives $1.25 Million for February 1-30 Production and $1.85 Million in Warrants

First Helium Receives $1.25 Million for February 1-30 Production and $1.85 Million in Warrants - RICH TV LIVE - March 29, 2022 - #firsthelium #oil #richtvlive #helium #trading #stocks #news #business #finance #education #pennystocks #richtv #richpicksdailyShow more

First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC), today announced a significant positive change to the Company's balance sheet based on ongoing payments from light oil production and cash proceeds from the exercise of previously issued warrants.

Strong revenues continue through the receipt of payments of $1.25 million for light oil volumes delivered during February from the "1-30" well which is located on First Helium's 100% owned, 79,000 acre Worsley landholdings in Northern Alberta , Canada. The 1-30 well was brought on-stream on January 23, 2022 , and produced an average of approximately 430 barrels per day ("bbls/d") of light oil during the month of February. The Company also recently announced the successful drilling, completion and testing of its 4-29 light oil discovery well and estimates that it will receive payment in April of approximately $100,000 for volumes of oil produced during the testing operations.

In addition, during the month of March First Helium has received proceeds of approximately $1,490,500 from the exercise of 2,981,082 warrants with a strike price of $0.50 and approximately $359,000 from the recent exercise of 1,025,812 broker warrants with a strike price of $0.35 . Also, in an effort to broaden its potential investor base, First Helium's common shares began trading in the U.S.; its listing was upgraded to the OTCQB on March 14, 2022 , under ticker "FHELF".

"The 1-30 well continues to perform very strongly and we look forward to bringing the 4-29 well on stream next month," said Ed Bereznicki , President & CEO of First Helium. "Total cash proceeds of approximately $3.2 million from the early exercise of warrants along with cash flow from the two wells will be deployed to help support ongoing helium exploration activities at our Worsley Property and our Southern Alberta Helium Fairway exploration land," added Mr. Bereznicki.

JOIN RICH TV LIVE TRADING CLUB HERE - http://www.richtv.io

Subscribe - https://www.youtube.com/c/RICHTVLIVE
Visit - http://richtv.io/ a community for stocks, cryptocurrency, news, and trending topics. #richtvlive #RICHTV.IO #richpicksdaily #stocks #business #news #finance #education #entertainment #money #defi #nft #metaverse #trading #stockmarket

Popular Uploads - https://goo.gl/tbvXGg
Most Recent Upload - https://goo.gl/unKXBy
YouTube Channel Page - https://goo.gl/yUdG7w
Subscribe - http://www.youtube.com/c/RICHTVLIVE
Rich TV Live Playlist - https://goo.gl/e116JF
RICH TV LIVE TOP 10 STOCKS Playlist - https://www.youtube.com/playlist?list=PLiBGEhbXkQPCfeYmBKHyXXu8dZc3YkkbW&disable_polymer=true

Disclaimer

RICH TV LIVE INC. company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in RICH TV LIVE reports company profiles or other investor relations materials and presentations are subject to change. RICH TV LIVE and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time. RICH TV LIVE INC. sponsored $2500 CAD for digital video services.

Investing is inherently risky. RICH TV LIVE is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print.

We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission ("SEC") at www.sec.gov/Canadian CSA https://www.securities-administrators.ca/.